Earlier this week the Budget Speech was presented by Minister of Finance, Tito Mboweni, who noted that the revenue collector is zoning in on many areas that need special attention.

The South African Revenue Service (SARS) then revealed that it was launching units aimed at tackling the illicit tobacco industry and big business in an effort to identify and bring to book tax dodgers.

The illicit economics unit was launched last year, while the large business unit will be announced at a formal launch in April, SARS confirmed

“There are direct comments being made at the State Capture commission, where direct notices have been given regarding tax abuse, fraudulent invoices being created and the splitting of salaries. These things are being dealt with by the unit,” said Mboweni.

SARS acting commissioner, Mark Kingon, also revealed that the revenue services were beginning to reduce its Value Added Tax (VAT) offerings, saying that in the Mid Term Budget Policy Statement (MTBPS), they had a R20 billion additionally allocated for VAT refunds.

“It is through these services that we can finally deliver what is needed by Caesar,” added Kingon.

[Source – SA News] [Image – CC 0 Pixabay]